Both Chevron and Royal Dutch Shell on Thursday announced major deepwater oil discoveries at two separate wells located in the U.S. Gulf of Mexico. Both finds have been described as being hugely significant.
Shell's Whale Discovery
First, Shell Offshore said it had encountered more than 1,400 net feet of oil-bearing pay at the Whale deepwater well, which is located … [Read more...]

Chevron Marine Lubricants, a leading lubrication solutions provider for alternatively fueled vessels and one of the largest suppliers of marine lubricants in the world, today has released the first in a series of new white papers focusing on innovations and developments impacting the fast-changing shipping industry.
"Methanol and Marine Lubricants in a Lower Sulphur, Lower … [Read more...]

South Korean shipbuilder Hyunday Heavy Industries confirmed Wednesday that Chevron has cancelled a $1.8 billion (2.1 trillion won) order for a floating production storage offloading (FPSO) destined for Chevron's Rosebank project in the UK North Sea.
"As the process to build the offshore plant has not begun due to delays in Chevron's final investment decisions, the company … [Read more...]

by Adam Williams (Bloomberg) Exxon Mobil Corp., Chevron Corp. and Hess Corp. have agreed to bid together for rights to drill for crude in Mexico’s deepwater oil areas, according to a person with direct knowledge of the plans.
The three U.S.-based producers have reached a Joint Operating Agreement, which allows the consortium to bid to produce oil in the 10 … [Read more...]

(Reuters) Asian prices for liquefied natural gas (LNG) were set to rise next week on strong prompt demand from Argentina and India as well as potentially lengthier supply disruptions in Australia and Angola.
However, this week Asian spot LNG prices LNG-AS traded lower at $5.25 per million British thermal units (mmBtu), down 25 cents since last week.
More supply in Asia … [Read more...]

By James Paton and Dan Murtaugh
(Bloomberg) -- Chevron Corp. halted output at its $54 billion Gorgon liquefied natural gas development for the second time this year after a gas leak at the site, the latest problem for the Australian mega-project.
The plant, located on Barrow Island off Australia’s northwest coast, evacuated workers after a minor gas leak. Chevron will … [Read more...]